Co-Founder and co-CEO Lars Seier Christensen to step down from Saxo Bank board of management

COPENHAGEN, 22-9-2015 — /EuropaWire/ — Co-Founder and co-CEO Lars Seier Christensen has decided to step down from the board of management of Saxo Bank while remaining as shareholder. Co-founder Kim Fournais will continue as sole CEO

​​​​​​Effective end of 2015 Lars Seier Christensen has decided to step down after 20 years on Saxo Bank’s management board, where he and co-founder Kim Fournais jointly have acted as co-CEOs. Christensen invested in the company in 1992 and joined as co-CEO in 1995. He holds a 26 per cent stake in Saxo Bank. Kim Fournais will continue as sole CEO and head the day to day management.

The Board of Management will from 1 January 2016 consist of Kim Fournais, CEO, Steen Blaafalk, Group Chief Financial & Risk Officer, and Søren Kyhl who will join in a newly created role as Group Chief Operating Officer.

“Saxo Bank owes Lars Seier Christensen a huge tribute for his ground-breaking efforts over the past 20 years and we are very pleased that Lars will continue assisting us both as ambassador and substantial shareholder,” said Lone Fønss Schrøder, chairman of the Board of Directors of Saxo Bank.

Lars Seier Christensen said in a comment:

• “I am proud that Saxo Bank has a solid market position globally as one of the strongest facilitators of products and digital platforms within the financial sector. I had never imagined that I would stay on as CEO in the same company for 20 years, but it has been an amazing journey together with the skilled and talented employees in Saxo Bank”
• “Saxo Bank is a mature company with a continued significant potential, there is consensus concerning the business strategy and a strong management team is in place. To step back into a different role has been a wish of mine for a considerable period and I believe now is the right time. I step down as co-CEO with a firm belief in future success for Saxo Bank, in which I also privately have an interest as a shareholder. I am fully confident that Kim Fournais together with the management team will take this bank to new highs.”

Kim Fournais said in a comment:

• “Lars and I have had a strong partnership since we founded the company together in 1992 and we will continue the partnership as shareholders in Saxo Bank. There is full confidence in the growth strategy within the private and institutional segments and not least in developing the best technology to support our global multi-asset product offerings.”
• “Saxo Bank has strengthened its capital base and added profiles with significant qualifications and expertise to both the Board of Directors and the Board of Management. We experience a growing interest in Saxo Bank’s business model and the long-term strategy of an IPO remains unchanged.”​​​​

Media enquiries
Cathrine Kier, Head of Communications
+45 3977 4980
press@saxobank.com

About Saxo Bank
Saxo Bank is an online multi-asset trading and investment specialist, offering private investors and institutional clients a complete set of tools for their trading and investment strategies. Its financial community portal, TradingFloor.com, is the first multi-asset social trading platform. A fully licensed and regulated European bank, Saxo Bank enables clients to trade FX, CFDs, ETFs, Stocks, Futures, Options and other derivatives on both our award-winning SaxoTrader and newly launched SaxoTraderGOplatform, accessible on PCs, tablets or smartphones through a single account and available in more than 20 languages. The platform is white-labelled by more than 100 major financial institutions worldwide. Saxo Bank also offers professional portfolio and fund management as well as traditional banking services through Saxo Privatbank. Founded in 1992, Saxo Bank is headquartered in Copenhagen and has offices in 26 countries throughout Europe, Asia, the Middle East, Latin America, Africa and Australia.